Crops Corporation (9428) Q3 2026 earnings summary

Executive summary

• FY25 3Q cumulative (Apr-Dec) revenue was ¥48,645m, operating profit ¥2,456m, ordinary profit ¥2,651m and net income attributable to owners ¥641m; revenue, operating profit and ordinary profit were historical-series highs.

• Revenue grew 7.5% YoY, driven by mobile communications, building maintenance, store subleasing and high-margin real estate sales.

• Operating profit rose 57.2% YoY; net income attributable to owners rose 68.2%.

Financial highlights

• Revenue was ¥48,645m (+7.5% YoY); operating profit ¥2,456m (+57.2%); ordinary profit ¥2,651m (+57.5%); net income attributable to owners ¥641m (+68.2%).

• Revenue reached 99.4% of plan; operating profit, ordinary profit and net income were 109.3%, 108.9% and 110.9% of plan, respectively.

• Comprehensive income was ¥1,191m (+55.6% YoY); EPS was ¥67.82, up from ¥40.32.

Outlook and guidance

• FY25 forecast: revenue ¥67,121m (+9.0% YoY), operating profit ¥3,201m (+32.5%), ordinary profit ¥3,410m and net income ¥1,177m (+18.8%).

• Revenue, operating profit and ordinary profit are planned at record highs; operating profit is forecast 33% above FY24, supported by mobile communications, store subleasing and real estate sales.

• Mobile communications FY25 forecast: revenue ¥29,030m and operating profit ¥860m, versus FY24 revenue ¥27,734m and operating profit ¥437m.

• Earnings and dividend forecasts were unchanged; annual dividend forecast is ¥25 per share.